Heidelberg sells its Print Media Academy

Heidelberg has inked a corresponding purchase agreement to sell its Print Media Academy (PMA) in Heidelberg to a Luxembourg-based investment company.

Heidelberg said it is achieving a purchase price in the low double-digit million-euro range, as the company streamlines its business following the effects of COVID-19 as part of its planned site and structural optimisation measures.

The news follows Heidelberg’s sale of its Belgian printing chemicals production site, and the intended sale of its Gallus business.

According to Heidelberg, the sale paves the way for a new, forward-looking use of the building at a central location in the city.

Heidelberg will retain its headquarters and representative office in rented premises in the PMA and said will therefore continue to make company-relevant decisions in the city, including at committee meetings held there.

However, it has moved the few employees that were working at PMA to its Wiesloch/Walldorf site.

Heidelberg CEO Rainer Hundsdörfer said as an agile, modern company, Heidelberg is committed to short distances and efficient use of space, meaning that employees are as close together as possible at the central site in Wiesloch/Walldorf.

“For us, the sale of PMA is the next logical step on our agenda. We are aware that the sale has a signal effect: However, we will remain closely connected to the city as well as the region in the future,” he added.

“At the same time, we are convinced that the change of ownership will open up new, diverse perspectives for the city and the local people

“With the proceeds from the sale, we can once again strengthen our liquidity in the persistently challenging COVID-19 environment and further increase our financial stability in the long term through future cost savings.”

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